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on the president's $2 billion bright idea in green energy ♪ lou: president obama making a left turn on energy, playing back to his environmental base of delaying decisions on the keystone xl pipeline. the american petroleum institute joins us with industry reaction in just a moment. consumer confidence slipping unexpectedly in march. the dow record-setting run in the at eight sessions. the market putting to rest a tense session when streak as well today. the dow down a modest 25 points, as an pylos twond a half, still within five points of its all-time high. there is always next week. the nasdaq down ten points. 5 billion shares traded on the big board. the heaviest trading day of the year so far for the week. the major market indexes are all higher. the dow leadg the way. in the bond market, rates slipping. the ten year treasury ending the week up to even. gold and crude finishing the we got hired. crude oil up to 77 of the past two weeks, now 9345 per barrel. in the former j.p. morgan chase executives in charge of the unit responsible for the london will operation and $6 billion in losses r

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get the bomb. why have we not tried? why are we not developing our own energy resources so that then the iranian energy resources are far less important ? lou: even with energy independence on our horizon, with an access. we will see over the course of the next year the united states oil production reached the same level as import. the milestone. by 2022 it will be energy independent. as you suggest, a program could achieve that reality much sooner . you're really saying the president obama's wasted the last four years? >> you betty has. there have been some things they have done ight. the cyber attacks have been great, but the real problem is for the last hundred years the world has gone to war over access to energy. we have now been given the energy of a dream of a lifetime. we have energy independence within our grasp. oil, natural gas. then what happens? we don't need to be in the middle of every civil war because they have their own energy. lou: we have not address the energy -- issue central to our foreign policy go about -- over last two decades, and it's about damn

, new york and republican chairman of the congressional committee, energy and commerce committee, chairman of the communications and technology subcommittee. congressman, great have you with us. are you excited about tomorrow? >> you know, it is always interesting when the president comes to visit washington and certainly up to capitol hill, so we welcome him to hear what he has to say. lou: and what he has to say will be in the form of a budget. we have to wait until apparently the week of april 8. >> this is nearly unprecedented. you have to go back to when warren harding was president. he should have had this. you're at least t months late. if he were the ceo of any major company wouldot be a ceo right now with these limits uses. lou: it would be interesting to see how his shareholders would be behaving. >> a little upset. yes. actually, voters i think are catching on. is job approval number going down. and to say that you are not even going to a chase a balanced budget, we need a balanced budget so that we can grow the economy and jobs to stop having this track with the defic

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